Tax Diary January/February 2019

1 January 2019 – Due date for Corporation Tax due for the year ended 31 March 2018. 19 January 2019 – PAYE and NIC deductions due for month ended 5 January 2019. (If you pay your tax electronically the due date is 22 January 2019) 19 January 2019 – Filing deadline for the CIS300 monthly […]

CGT planning for married couples

This article is also relevant to couples who have entered into a civil partnership. For the tax year 2018-19, taxpayers can make tax-free capital gains of up to £11,700. This allowance is available on a per person basis and so married couples (and those in a civil partnership) have a combined CGT allowance of £23,400. […]

The top rate of Income Tax is 45%?

Named the additional rate, the highest rate of Income Tax is 45%, and some might say 45% is high enough. However, if the rate of tax is measured as the relationship between income and tax plus tax related penalties paid, there are times when this 45% can rise, to as much as 90%. For example, […]

Set your New Year resolutions

This is not the place to discuss your personal options, but this is an ideal time to consider your business and personal financial planning options for 2019. What are your options? If Brexit, as it seems likely, has a depressive effect on the UK economy, we may be pushed back into a mild recession. If […]

Tax payment time again

As all our self-assessment readers will be aware, 31 January is the date by which any arrears of tax for 2017-18 need to be settled, together with a payment on account for 2018-19, if one is due. Those who have completed their tax returns for 2017-18 should be aware what these liabilities amount to and […]